iConsumer Corp. is raising $1,000,000 with a minimum reservation of $1,000. Numbers displayed include non-binding reservations before investors are verified, signed, or closed.
Ownership is the ultimate form of loyalty. Shop 1,800 favorite retailers to earn equity in iConsumer and cash back. Next funding phase: ICO (Initial Coin Offering)
Secured over 1700 online retailer partnersJune, 2015
Launched Beta Testing PhaseJune, 2015
Developed iConsumer mobile app for iOS & AndroidAugust, 2016
Regulation A+ Offering SEC Qualified - $.045/shareSeptember, 2016
2016 Revenue: $480,000December, 2016
Reg. A+ Offering - First Investor ClosingDecember, 2016
Left Beta Phase - 13,000 Member / ShareholdersFebruary, 2017
Reg. A+ Offering - SEC Re-Qualified - $.09/shareFebruary, 2017
Issued stock to 2,600 customersApril, 2017
Closed Reg. A+ OfferingMay, 2017
Filed revised FINRA Form 211 to obtain ticker symbol for OTC QB quotation - 10,000 pages of documentationJune, 2017
First SEC Annual Report 1-A FiledJune, 2017
Issued Cash Back Checks to 5982 members through this dateAugust, 2017
In 5 months grew from 13,000 to 45,000+ members. New members pay for themselves in less than a yearSeptember, 2017
FINRA issues ticker symbol: ICCMPDecember, 2017
48,886 MembersDecember, 2017
Announced Token / Coin: REWARDS coinDecember, 2017
Our retail partners (e.g. jet.com, Walmart, Sephora, etc.) pay us a commission for referring customers. We share the commission with our members in the form of rebates, which are a combination of cash back and stock back (ownership in iConsumer).
We have completed our public offering, and now we're are going through the approval process. We hope that before the end of Q4, 2017 the answer will be yes (to be precise, because the lawyers want us to be precise, we'll be quoted on the OTC QB market).
Regulation A+ is part of the 2012 JOBS Act, and it makes it much less expensive to become and be a new kind of public company. iConsumer used Title IV, Tier 2 of the JOBS Act to make it legal to have 1,000,000 shareholders.
Because we didn't need them to get started. If ordinary people can make a company successful, simply by shopping and telling their friends, and if those people win when we win, what value does a VC type add? We used the power of the crowd to build this company, maybe the first time it's really been done this way.
Sure. One of our founders financed most of the costs (about $1,000,000), asked some friends to invest, just to make sure he wasn't completely crazy, and then we asked ordinary people to invest a little bit of money each. $25 here, $50 there, and it added up. Now that we need more capital to scale, those friends have invested again.
It's not their type of deal. We're already public, but still early-stage. They don't have a neatly drawn box into which to put this kind of investment.
Our projections show that with that many people using iConsumer, we should generate enough cash to never, ever have to raise more money unless we want to.
1,000,000 of anything is a lot. But to put it into perspective. When eBates (a competitor) sold to a Japanese firm for about $960,000,000 they had 2,500,000 members.
Our share price doubled from $.045 to $.09 earlier this year, and thousands of ordinary people, who had gotten their shares simply for shopping and referring their friends, got excited. And that translated into more members and more shopping. We can't wait to see what happens when FINRA issues us our ticker symbol, we get quoted on the OTC QB and people can actually Google our share price.